TokyoThe yen traded at 159.58 per dollar Thursday.
Wholesale prices in Japan rose 7.1% in the year to October, the Bank of Japan said.
Traders expect a Federal Reserve hike after hot October inflation, widening the gap with Japan’s 1.25% borrowing costs.
Many analysts polled expect the Bank of Japan to raise rates as soon as next month.
The Federal Reserve decides on 9 December, with officials leaving a 50-basis-point hike open.
How each outlet framed it
- Nikkei Asia
- Reuters
- ties the yen move to a specific Fed chain: hotter October CPI, Williams's panel, and Goldman calling for a hike early next year
Sources: Nikkei Asia, Reuters